Guideline Value for GEORGE ROAD

George Road guideline value

The current guideline value of George Road in Matthur village, under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of George Road has changed

The guideline value for George Road has seen several revisions over the years. In 2002, the value was Rs 68 per sq.ft, which increased to Rs 80 per sq.ft in 2003. Following this, the value rose significantly to Rs 200 per sq.ft in 2007, marking a 150% increase. The next revision in 2012 saw the value at Rs 1,000 per sq.ft, a substantial increase of 400% from the previous figure. However, in 2017, the value dropped to Rs 670 per sq.ft, reflecting a decrease of 33%. The 2023 revision set the value at Rs 1,000 per sq.ft, which then increased by 10% to the current Rs 1,100 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1518%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The guideline value of George Road is equal to the median value of Rs 1,100 per sq.ft. Below are other streets in Matthur with their respective guideline values:

• Gomathi Garden: Rs 1,600 per sq.ft (2024)
• Ganesh Nagar: Rs 1,100 per sq.ft (2024)
• Grama Street: Rs 1,100 per sq.ft (2024)
• Gandhi Nagar: Rs 1,100 per sq.ft (2024)
• Eswari Nagar: Rs 1,100 per sq.ft (2024)
• Jai Ganapathy Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in George Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees together Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers George Road?

The Sub Registrar Office that covers George Road is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Matthur

The guideline value is a crucial factor during the registration of property transactions in Matthur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that all transactions are fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value of George Road?

The current guideline value of George Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 68 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting significant increases and a few decreases over the years.

What is the land classification for George Road?

The land classification for George Road is Residential Special Type - III.

What are the stamp duty and registration fees for property in George Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 99,000.

Which Sub Registrar Office covers George Road?

The Thiruvottiyur Sub Registrar Office covers George Road, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.